Fragasso Financial Advisors Inc Sells 56,761 Shares of Schlumberger Limited (NYSE:SLB)

Fragasso Financial Advisors Inc lowered its position in Schlumberger Limited (NYSE:SLB - Free Report) by 59.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,177 shares of the oil and gas company's stock after selling 56,761 shares during the quarter. Fragasso Financial Advisors Inc's holdings in Schlumberger were worth $1,596,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. TCW Group Inc. boosted its position in Schlumberger by 1.3% during the fourth quarter. TCW Group Inc. now owns 19,797 shares of the oil and gas company's stock worth $759,000 after acquiring an additional 259 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. lifted its stake in shares of Schlumberger by 0.5% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 56,714 shares of the oil and gas company's stock valued at $2,174,000 after purchasing an additional 262 shares during the last quarter. Vident Advisory LLC grew its holdings in shares of Schlumberger by 1.0% during the 4th quarter. Vident Advisory LLC now owns 27,838 shares of the oil and gas company's stock worth $1,067,000 after purchasing an additional 273 shares during the period. Glen Eagle Advisors LLC boosted its stake in Schlumberger by 3.7% during the fourth quarter. Glen Eagle Advisors LLC now owns 7,843 shares of the oil and gas company's stock worth $301,000 after buying an additional 282 shares during the period. Finally, Cromwell Holdings LLC increased its position in shares of Schlumberger by 7.0% during the fourth quarter. Cromwell Holdings LLC now owns 4,350 shares of the oil and gas company's stock valued at $167,000 after acquiring an additional 283 shares during the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.

Schlumberger Stock Up 2.3%

Shares of SLB stock traded up $0.76 on Tuesday, hitting $34.10. 16,171,749 shares of the stock were exchanged, compared to its average volume of 13,509,563. Schlumberger Limited has a fifty-two week low of $31.11 and a fifty-two week high of $50.94. The company has a current ratio of 1.45, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49. The business has a 50-day moving average of $35.11 and a 200 day moving average of $38.88. The firm has a market capitalization of $46.38 billion, a P/E ratio of 10.96, a price-to-earnings-growth ratio of 10.10 and a beta of 1.06.

Schlumberger (NYSE:SLB - Get Free Report) last issued its earnings results on Friday, April 25th. The oil and gas company reported $0.72 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.73 by ($0.01). Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The firm had revenue of $8.49 billion during the quarter, compared to the consensus estimate of $8.64 billion. During the same period in the previous year, the company posted $0.75 earnings per share. The firm's revenue for the quarter was down 2.5% compared to the same quarter last year. Equities analysts anticipate that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Wednesday, June 4th will be issued a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date is Wednesday, June 4th. Schlumberger's dividend payout ratio is 38.64%.

Insiders Place Their Bets

In related news, Director La Chevardiere Patrick De sold 5,000 shares of the stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $33.58, for a total value of $167,900.00. Following the completion of the transaction, the director now owns 23,525 shares of the company's stock, valued at $789,969.50. This represents a 17.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Aparna Raman sold 25,133 shares of the business's stock in a transaction on Friday, March 28th. The stock was sold at an average price of $42.28, for a total value of $1,062,623.24. Following the sale, the insider now owns 31,031 shares in the company, valued at $1,311,990.68. This represents a 44.75% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.26% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Piper Sandler lowered their price target on Schlumberger from $46.00 to $44.00 and set a "neutral" rating for the company in a research report on Tuesday, April 29th. Barclays lowered their price objective on shares of Schlumberger from $53.00 to $48.00 and set an "overweight" rating for the company in a research note on Friday, April 25th. Jefferies Financial Group reduced their target price on shares of Schlumberger from $60.00 to $59.00 and set a "buy" rating on the stock in a report on Thursday, March 27th. Susquehanna dropped their price target on shares of Schlumberger from $48.00 to $46.00 and set a "positive" rating for the company in a research note on Monday, April 28th. Finally, Stifel Nicolaus reduced their price objective on Schlumberger from $58.00 to $54.00 and set a "buy" rating on the stock in a research note on Monday, April 28th. Five investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Schlumberger presently has an average rating of "Moderate Buy" and a consensus target price of $52.44.

Schlumberger Company Profile

Schlumberger Limited engages in the provision of technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. The company provides field development and hydrocarbon production, carbon management, and integration of adjacent energy systems; reservoir interpretation and data processing services for exploration data; and well construction and production improvement services and products.